Fed Chairman Powell: Market volatility won't stop more rate hikes

ArticleDeflationMarch 8, 2018 - 8:29:21 AM

Federal Reserve Chairman Jerome Powell downplays concerns over market volatility and says the central bank remains on course for more interest rate hikes.

Federal Reserve Chairman Jerome Powell played down concerns about recent market volatility, arguing Tuesday that the dramatic swings do not weigh heavily on his outlook for the economy and maintaining his expectation for further gradual increases in interest rates.

In Capitol Hill testimony, Powell emphasized that the job market remains robust, consumer spending is solid and wage growth is accelerating. He also highlighted gains in U.S. exports and stimulative fiscal policy as new "tailwinds" for the economy...

Source:cnbc.com

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